证券代码：300990 证券简称：同飞股份 公告编号：2026-015 三河同飞制冷股份有限公司 2026 年第一次临时股东会决议公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载、误导性陈述或者重大遗漏。 特别提示： 1、本次股东会不存在否决议案的情形。 2、本次股东会不涉及变更以往股东会已通过的决议。 一、会议召开情况 1、股东会召开时间： （1）现场会议召开时间：2026 年 2 月 26 日下午 14:30。 （2）网络投票时间：通过深圳证券交易所交易系统进行网络投票的具体时 间为：2026 年 2 月 26 日上午 9:15-9:25，9:30-11:30，下午 13:00-15:00；通过深 圳证券交易所互联网投票系统进行网络投票的具体时间为：2026 年 2 月 26 日上 午 9:15 至下午 15:00。 2、会议地点：河北三河经济开发区崇义路 30 号，办公楼四层会议室。 3、召开方式：现场投票和网络投票相结合的方式召开。 4、会议召集人：公司董事会。 5、会议主持人：董事长张国山先生。 6、会议的召集、召开与表决程序符合《中华人民共和国公司法》《中华人民 1 ...

北京市环球律师事务所 关于 三河同飞制冷股份有限公司 2026 年第一次临时股东会 之 法律意见书 北京市环球律师事务所（以下简称"本所"）接受三河同飞制冷股份有限公 司（以下简称"公司"）的委托，根据《中华人民共和国公司法》（以下简称"《公 司法》"）、《中华人民共和国证券法》（以下简称"《证券法》"）、中国证 券监督管理委员会发布的《上市公司股东会规则》等法律、法规、部门规章及《三 河同飞制冷股份有限公司章程》（以下简称"《公司章程》"）的有关规定，指 派本所律师对公司 2026 年第一次临时股东会（以下简称"本次股东会"或"本次 会议"）进行见证，并出具法律意见。 本法律意见书的出具已得到公司的如下保证：公司向本所律师提供的所有文 件及复印件均是真实、准确、完整和有效的，且无隐瞒、虚假和重大遗漏之处。 本所律师仅对本次股东会的召集、召开程序、出席会议人员的资格、召集人 资格、会议表决程序及表决结果的合法性发表法律意见，不对本次股东会审议事 项或议案的内容及前述事项或内容所表述的事实或数据的真实性及准确性发表意 见。 北京市环球律师事务所 关于三河同飞制冷股份有限公司 2026 年第一次临时股东会 之 法 ...

Core Insights - The report identifies liquid cooling as a strategic investment opportunity, potentially replicating the success of optical modules and PCBs, with strong growth prospects driven by AI computing needs and stringent energy efficiency standards [2][3] - Liquid cooling is characterized by three main features: strong growth, complete narrative, and favorable odds, indicating a favorable market environment for investment [2] - The industry is transitioning from speculative hype to a high-growth phase with confirmed orders, as evidenced by significant order increases from key suppliers like Vidi Technology [3] Industry Trends - The liquid cooling industry is entering a high-growth phase with a 252% year-over-year increase in organic orders reported by Vidi Technology, highlighting strong market demand [3] - Major tech companies like NVIDIA and Google are adopting liquid cooling as a mandatory standard for their next-generation platforms, indicating a shift from optional to essential technology in AI computing [3] - The industry is witnessing a wave of mergers and acquisitions, with companies like Liying Intelligent Manufacturing acquiring liquid cooling suppliers to secure positions in the AI server supply chain [3] Liquid Cooling Industry Chain - The liquid cooling industry chain consists of three main segments: upstream components, midstream system integration and manufacturing, and downstream applications [4] - Upstream includes key technologies and components such as cooling fluids and CDU, which have high technical barriers and value [4] - Midstream integrates upstream components to provide complete liquid cooling server solutions, with technical integration capabilities as a core barrier [4] - Downstream focuses on high-performance data center operators and industry users driving the large-scale adoption of liquid cooling [4]

Group 1 - The A-share market saw a collective surge in liquid cooling concept stocks, with Fangsheng Co. rising by 17%, Shenling Environment increasing by over 13%, and Langjin Technology and Yimikang both up by over 12% [1] - Other notable performers included Chuanrun Co., Bojie Co., and Dayuan Pump Industry, which all hit the daily limit of 10%, while Keda, Yingweik, Kexin Innovation, and Debang Technology rose by over 7% [1] Group 2 - The table lists several stocks with their respective price changes and market capitalizations, highlighting that Youkede-W had a price increase of 20.01% with a total market value of 20.6 billion, and a year-to-date increase of 60.38% [2] - Wansheng Co. experienced a 17.01% rise, with a market cap of 2.801 billion and a year-to-date increase of 10.23% [2] - Shenmeng Environment saw a 13.84% increase, with a market cap of 22.9 billion and a year-to-date increase of 35.74% [2]

Investment Rating - The report maintains a "Recommended" rating for the power equipment sector [4][15]. Core Insights - North American CSP companies are significantly increasing their capital expenditures, with Meta's Q4 2025 capex reaching $22.14 billion and projected to rise to $115-135 billion in 2026. Microsoft, Amazon, and Google are also increasing their capex, indicating a robust demand for AI training and inference [3][12][13]. - Domestic AI applications are entering a commercialization inflection point, with companies like Tencent and Alibaba launching significant promotional campaigns to stimulate user engagement and application usage [12][13]. - The AI industry is transitioning from a focus on computational power to a collaborative expansion involving infrastructure and application ecosystems, benefiting sectors such as servers, power equipment, data centers, and liquid cooling systems [14]. Summary by Sections Investment Views - The report suggests focusing on the IDC sector, highlighting companies like Kehua Data and Jinpan Technology due to their growth potential. It also recommends monitoring high-voltage circuit breakers and power supply sectors, with specific mentions of companies like Liangxin and Sunshine Power [4][14]. Industry Dynamics - The report notes that the domestic data center sector is beginning to expand and upgrade, with significant opportunities in direct current power supply equipment. The power equipment sector is expected to benefit from these trends [4][17]. - The report highlights that the State Grid's fixed asset investment grew by over 35% year-on-year in January, indicating strong infrastructure investment [18][19]. Key Companies and Earnings Forecast - The report provides earnings forecasts for several companies, including Kehua Data, Liangxin, and Sunshine Power, with specific EPS and PE ratios outlined for 2024 to 2026 [7][16].

Core Viewpoint - Tongfei Co., Ltd. plans to issue shares to specific investors to raise up to 1.2 billion yuan for various projects and working capital [1] Group 1: Fundraising Details - The total amount to be raised is not more than 1.2 billion yuan [1] - The funds will be allocated to the Southern Headquarters and industrial cooling equipment projects, as well as the liquid cooling temperature control project of Sanhe Tongfei Refrigeration Co., Ltd. [1] - The issuance will involve no more than 35 specific investors [1] Group 2: Pricing and Control - The issuance price will be no less than 80% of the average trading price of the company's stock over the 20 trading days prior to the pricing benchmark [1] - The issuance will not result in a change of control for the company [1] - The share distribution will remain compliant with listing requirements [1]

Core Viewpoint - Tongfei Co., Ltd. (300990.SZ) has announced a plan to issue shares to specific investors, aiming to raise up to RMB 1.2 billion for various projects and working capital [1][2]. Group 1: Share Issuance Details - The share issuance will target no more than 35 specific institutional investors, including securities investment funds, securities companies, trust companies, financial companies, insurance institutions, and qualified foreign institutional investors [1]. - The issuance price will not be lower than 80% of the average trading price over the last 20 trading days prior to the pricing date and must also be above the latest audited net asset value per share [1][2]. - The type of shares to be issued is RMB ordinary shares (A-shares) with a par value of RMB 1.00 per share, and the total number of shares issued will not exceed 30% of the company's total share capital prior to the issuance [2]. Group 2: Fund Utilization - The total amount raised from the issuance will not exceed RMB 1.2 billion, which will be allocated to three main projects: - RMB 600 million for the Southern Headquarters and industrial cooling equipment and components project - RMB 300 million for the liquid cooling temperature control project at Sanhe Tongfei Refrigeration Co., Ltd. - RMB 300 million for supplementing working capital [2][4]. Group 3: Shareholder Structure - As of the announcement date, the actual controllers of the company, including Zhang Guoshan, Zhang Haolei, Li Li, and Wang Shufen, hold a combined 68.98% of the equity and 70.64% of the voting rights, indicating that the share issuance will not change the control of the company [4]. - The company was listed on the Shenzhen Stock Exchange's Growth Enterprise Market on May 12, 2021, with an initial public offering that raised RMB 1.112 billion [5]. Group 4: Financial Performance - The company has projected a net profit attributable to shareholders of between RMB 240 million and RMB 268 million for 2025, representing a year-on-year growth of 56.43% to 74.68% [9].

Group 1 - The National Office will hold a press conference to introduce the mid-term evaluation results of the Yangtze River's ten-year fishing ban and the phased achievements over the past five years [1] - The Ministry of Transport will hold a press conference to discuss the economic operation of the transportation sector in 2025 [2] - The 2025 Technology Innovation Summit will focus on five cutting-edge tracks and address core issues in the industry, providing authoritative references for industrial upgrades, capital layout, and talent flow [3] Group 2 - A total of 9 companies will have their restricted shares unlocked today, with a total unlock volume of 170 million shares and a market value of 5.807 billion yuan [4] - Nine companies disclosed stock repurchase progress, with two companies announcing new repurchase plans exceeding 100 million yuan [5] - Six companies announced progress on private placements, with the highest fundraising plans from Tongfei Co., Beijing Lier, and Furong Technology, aiming to raise up to 1.2 billion yuan, 1.034 billion yuan, and 300 million yuan respectively [6]

Group 1 - The State Council issued a work plan to optimize and expand service supply, aiming to enhance service consumption and support high-quality economic development [2] - The work plan focuses on key areas such as transportation services, housekeeping services, and inbound consumption, emphasizing innovation and talent development [2] - The commercial aerospace industry is being prioritized, with plans to develop new fields like space resource development and space tourism during the 14th Five-Year Plan [3] Group 2 - Shanghai aims to become a national hub for the commercial aerospace industry, targeting an industry scale of approximately 100 billion yuan by 2027 [4] - The Beijing humanoid robot innovation center has launched a testing platform, capable of producing 5,000 humanoid robots annually [4] - The Kunshan AI industry fund has been established with a total scale of 5 billion yuan, focusing on AI core hardware and infrastructure [5] Group 3 - The market is experiencing mixed performance, with major U.S. indices showing slight fluctuations [6] - Microsoft shares dropped 10%, marking the largest single-day decline since March 2020, due to concerns over high AI capital expenditures [8] - Gold prices reached a record high of $5,594.82 per ounce before settling at $5,389.19, with a monthly increase of approximately 24% [9]

Core Insights - The article highlights significant profit forecasts for various companies in 2025, indicating a trend of recovery and growth across multiple sectors, with some companies projecting substantial increases in net profit compared to the previous year. Company Performance Forecasts - **Beimo High-Tech**: Expected net profit for 2025 is between 190 million to 220 million yuan, a year-on-year increase of 1076.16% to 1261.87% [2] - **Jiangfeng Electronics**: Plans to acquire control of Kaide Quartz, with stock suspension starting January 30 [3] - **ST Aowei**: Received a notice of termination of listing due to market capitalization falling below 500 million yuan for 20 consecutive trading days [4] - **GaoDe Infrared**: Forecasted net profit of 700 million to 900 million yuan for 2025, recovering from a loss of 447 million yuan in the previous year [6] - **Bingchuan Network**: Expected net profit of 436 million to 516 million yuan, recovering from a loss of 247 million yuan [6] - **BlueFocus**: Anticipated net profit of 180 million to 220 million yuan, recovering from a loss of 291 million yuan [7] - **Godewei**: Projected net profit of 125 million to 162 million yuan, turning from loss to profit [6] - **Zhongyida**: Expected net profit of 51.23 million yuan, recovering from a loss [8] - **Helin Micro-Nano**: Forecasted net profit of 26 million to 33 million yuan, turning from loss to profit [8] - **Zhongke Sanhuan**: Expected net profit of 80 million to 120 million yuan, a year-on-year increase of 566.23% to 899.35% [9] - **Beilu Pharmaceutical**: Projected net profit of 87 million to 130 million yuan, a year-on-year increase of 537.28% to 852.26% [9] - **Light Media**: Expected net profit of 1.5 billion to 1.9 billion yuan, a year-on-year increase of 413.67% to 550.66% [9] - **Zhezhong Co.**: Forecasted net profit of 360 million to 500 million yuan, a year-on-year increase of 392.14% to 583.53% [10] - **Hailanxin**: Expected net profit of 40 million to 60 million yuan, a year-on-year increase of 387.47% to 631.2% [10] - **Jin Control Power**: Projected net profit of 155 million to 195 million yuan, a year-on-year increase of 383.21% to 507.9% [11] - **Century Huatong**: Expected net profit of 5.55 billion to 6.98 billion yuan, a year-on-year increase of 357.47% to 475.34% [12] - **Chunxue Food**: Forecasted net profit of 36 million to 43 million yuan, a year-on-year increase of 340.90% to 426.63% [13] - **Shirong Zhaoye**: Expected net profit of 126 million to 186 million yuan, a year-on-year increase of 236.77% to 397.13% [13] - **Ningbo Yunsheng**: Projected net profit of 280 million to 380 million yuan, a year-on-year increase of 194.49% to 299.67% [14] - **Jiangbolong**: Expected net profit of 1.25 billion to 1.55 billion yuan, a year-on-year increase of 150.66% to 210.82% [16] - **China Shipbuilding**: Forecasted net profit of 7 billion to 8.4 billion yuan, a year-on-year increase of 65.89% to 99.07% [17] Fundraising and Restructuring - **Beijing Lier**: Plans to raise no more than 1.034 billion yuan through a private placement [21] - **Tongfei Co.**: Plans to raise no more than 1.2 billion yuan through a private placement [21] - **Muxi Co.**: Plans to provide up to 200 million yuan in loans to its subsidiary for GPU development [23] - **Wanhua High-Tech**: Haihua Group will become an indirect controlling shareholder through a cash increase of 4.998 billion yuan [23]